The effects of COVID-19 are being felt across the country and in lots of industries in many different ways. As for housing, this will affect how you buy and sell homes in the immediate future, especially because of the historic impact on mortgage rates.

With a world full of constantly changing factors that make impacts on the market, we have to look for the official numbers to make projections and find insights into the markets. Here are some findings from recent reports across the country.

Despite the fact that the coronavirus pandemic left millions unemployed, destroyed the economy, and saw businesses closing their doors left and right, there have been rising housing prices across the United States. Even though the market dropped in the beginning stages of the pandemic, it made a rapid and relieving recovery, with median home prices hitting a high in July in spite of the impending recession and economic crisis.

Even with all the madness going on, the housing market is historically driven by two factors: demographics and mortgage rates. And regardless of everything that has been going on, neither of these two factors has suffered in the wake of the coronavirus outbreak. It might seem counterintuitive given the current state of the world that the cost of homes is increasing, so why do home prices continue to climb?

Economic activity continues to ramp up as the nation further eases COVID restrictions and prepares for the upcoming presidential election. Social unrest, the death of Supreme Court Justice Ruth Bader Ginsburg, and concerns over the Coronavirus pandemic continue to remain incredibly important.

Homeowners have tried figuring out the best time for home refinancing for an exceptionally long time. Even before COVID-19, many people needed clarification about the appropriate time to consider refinancing, particularly those who have never owned a home before or are unfamiliar with the refinancing process. The historically low mortgage rates that have come alongside the outbreak of the Coronavirus pandemic have left multitudes of homeowners itching to take advantage of low rates to refinance their homes. It is easy to understand why. Low interest rates make for low mortgage rates, which is excellent when refinancing. That makes sense, right?

States continue to slowly reopen their economies. Restaurants and retail stores continue to open at impressive rates, albeit with occupancy restrictions and other COVID regulations in place. Schools have begun to reopen, and the economy as a whole is sitting in a much better place than originally anticipated.

Public record errors can leave a significant impact on your home’s title.Moving into a new home should be one of the most exciting moments in your life. You have worked hard for it, searched high and low for that dream house, and now, it is all yours!At least, it should be, but what happens when public record errors affect your home’s title? Your house might be a new acquisition for you, but unless it is also newly built, there is a history to be uncovered.

After many states had moved towards phased reopenings of their respective economies, many are now preparing to hunker back down as COVID numbers rise and uncertainty continues to prevail.Nonetheless, July brought plenty of good news throughout the market. Overall, the United States economy appears to be recovering quicker than originally expected.

Imagine spending hour after hour searching for your dream home and finally finding it. But, as you start to complete all the paperwork and get ready to close an urgent email appears in your inbox. The email appears to be from your agent or attorney or from someone representing the seller urgently requesting for the down payment and other closing costs to be wired today.

With states easing restrictions on the economic shutdown, job gains and consumer activity have surged. The Fed has added to that further news regarding their activity in the treasury and mortgage markets.

Although May and early June saw much economic growth, only time will tell how sustainable that is given the current social, political, and health climate we are in.

In response to the COVID-19 pandemic, the Fed lowered the historically low prime interest rate to 0%. Interest rates for 30-year mortgages are currently at historic lows, around 3% for the past few months since the virus outbreak.

With GDP growth falling 4.8% in the first quarter of the year, consumer spending dropping to record lows, and unemployment nearing all-time highs, there is a major focus on the economic recovery. As states and counties prepare to reopen, here is what you need to know about the state of the overall economy.

These are certainly uncertain times for much of the U.S. economy, but one industry that is still open is real estate. Especially given the current interest rate, many lenders are overwhelmed with mortgage applications.

The ongoing COVID-19 pandemic continues to dominate the headlines. Some states are finally starting to open back up, while others are committed to a few more weeks, at least, of the stay-at-home order. Investors and markets across the world wait in limbo for daily updates.

The $2 trillion dollar stimulus package signed by President Trump is the first attempt by the government to slow the economic downturn caused by COVID-19. The stimulus, the largest in U.S. history, provides relief for individuals, families, and several businesses. Here’s what you need to know.

The market has been anything but normal over the past few weeks as the U.S. economy has come to a standstill amid the COVID-19 outbreak. States and cities across the U.S. have issued stay-at-home orders.

President Trump had initially hoped the economy would be reopened by mid-April, but his latest guidelines urge stay-at-home orders to remain in effect through the entirety of the month. Only essential businesses — real estate, title insurance, healthcare, hospitality, food, shipping, law, infrastructure, and energy — have remained open with the rest moving their operations entirely online and mandating “work-from-home” policies.

Late last week, Illinois Governor JB Pritzker issued Executive Order 2020-10 in response to the COVID-19 pandemic. This order implemented a stay-at-home mandate, emphasized social distancing, and identified essential businesses permitted to remain operational. The order took effect on Saturday, March 21, 2020, at 5:00 PM and is set to continue through April 7, 2020.

The COVID-19 pandemic has brought sweeping changes to the world, including significant disruptions in financial markets. In response, President Trump declared the pandemic a national emergency, implementing plans to increase testing and restrict travel to Europe. Across the U.S., schools, restaurants, bars, sporting events, and other nonessential businesses have temporarily shut down, leaving Americans navigating isolation and social distancing.

The biggest economic news of the past several weeks stems from the impact of the spreading coronavirus. Stock markets have tumbled, and investors remain uncertain. Despite this, reports from manufacturing, retail, and housing indicate growth in each respective industry.

When buying a home, title insurance serves as a safeguard against ownership disputes caused by title defects. While most financial lenders require buyers to purchase title insurance, you might wonder if it’s necessary when buying with cash.